ASTANA — Kazakhstan’s national oil and gas company KazMunayGas (KMG) and the Croatian Hydrocarbon Agency (CHA) agreed to strengthen cooperation in geological exploration. This was announced during a Dec. 15 meeting between KMG Chair Askhat Khassenov and CHA president Marijan Krpan in Astana.
Photo credit: KazMunayGas
The agenda included the finalization of the documentation on a Shygys geological exploration project located in the Aktobe Region.
According to KMG, Croatia showed significant interest in the project after reviewing the geological materials presented during the company’s global roadshow. The specialists conducted an independent assessment of the resource potential of the Shygys site, confirming its investment and geological attractiveness.
As part of the search for a strategic partner, Geoenergija Razvoj d.o.o., a CHA subsidiary, has submitted an official application for participation in the project. The parties are currently finalizing key documentation, including agreements on joint activities and financing.
As part of the search for a strategic partner, KMG continues geological work on the Shygys project, including the reprocessing of archival 2D seismic survey data. This work forms part of a broader subsurface evaluation aimed at refining resource estimates and supporting the project’s next development stages.
